JZ GROUP(SZ:300040)2024-04-26 08:41Financial Performance - The company's revenue for Q1 2024 was CNY 317,971,664.79, representing an increase of 11.32% compared to CNY 285,644,520.92 in the same period last year[6] - Net profit attributable to shareholders decreased by 29.64% to CNY 24,070,389.55 from CNY 34,212,030.87 year-on-year[6] - Basic and diluted earnings per share both decreased by 33.33% to CNY 0.04 from CNY 0.06 in the same period last year[6] - Total profit decreased by 30.39% to CNY 25,853,250.58, mainly due to losses from biomass operations[11] - Net profit for Q1 2024 was CNY 25,869,322.85, a decrease of 28.03% from CNY 35,898,516.95 in Q1 2023[28] - Earnings per share (EPS) for Q1 2024 was CNY 0.04, down from CNY 0.06 in the previous year[29] Cash Flow and Liquidity - The net cash flow from operating activities improved by 56.30%, reaching CNY -38,259,328.82 compared to CNY -87,544,599.29 in the previous year[6] - Cash received from operating activities increased by 659.87%, reaching 59,270,646.31 RMB, primarily due to the recovery of performance bonds from new energy projects[12] - The company's cash and cash equivalents decreased by 43.11% to CNY 248,259,711.49, primarily due to investments in new energy projects and debt repayments[11] - Cash inflow from financing activities was 40,000,000.00, significantly lower than 391,000,000.00 in the same quarter last year[31] - The company experienced a net decrease in cash and cash equivalents of -173,346,111.53 during the quarter[31] Operating Costs and Expenses - The company's operating costs increased by 34.86% to CNY 246,628,971.08, primarily due to higher costs associated with biomass operations[11] - Total operating costs increased to CNY 327,865,646.90, up 23.42% from CNY 265,632,664.85 year-on-year[27] - Cash paid for purchasing goods and services rose by 44.88%, amounting to 226,919,413.60 RMB, attributed to increased procurement of raw materials[12] - Research and development expenses increased to CNY 4,536,237.34, compared to CNY 3,956,358.94 in the same period last year, reflecting a growth of 14.63%[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,356,884,187.70, a decrease of 0.95% from CNY 7,427,490,622.22 at the end of the previous year[6] - The total current assets decreased from approximately 2.07 billion RMB to about 1.99 billion RMB, a reduction of approximately 3.5%[23] - The total liabilities decreased from approximately 4.47 billion RMB to about 4.38 billion RMB, reflecting a decrease of approximately 2%[25] - The total equity attributable to shareholders of the parent company increased to CNY 2,915,268,496.46, up from CNY 2,898,742,384.52[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,908[14] - Major shareholders include Li Yin with a 15.54% stake and Zhao Xiaohong with a 12.90% stake, both having pledged a portion of their shares[15] - The company plans to repurchase shares with a budget between 10 million and 20 million RMB, with a maximum price of 7.75 RMB per share, within 12 months from February 5, 2024[19] - As of March 29, 2024, the company has repurchased 2,272,740 shares, accounting for 0.39% of the total share capital, with a total transaction amount of approximately 9.99 million RMB[19] Investment and Financing Activities - Investment income rose by 73.31% to CNY 20,449,224.80, attributed to increased returns from equity holdings[11] - Cash received from investment activities decreased by 33.41%, totaling 15,231,152.31 RMB compared to the previous year[12] - The company has secured financing through partnerships with banks and leasing companies, ensuring low-cost financing for biomass power generation and wind power projects[22] Accounting and Reporting - The company did not undergo an audit for the first quarter report[32] - The report indicates the implementation of new accounting standards starting in 2024[32]